Credit, Collections & Insolvency News
Sue Chapple has succeeded Philip King as Chief Executive of the Chartered Institute of Credit Management, the world’s largest professional credit management organisation. Chapple who joined the CICM as Director of Strategic Relationships in 2018, has been interim CEO since King’s departure to become interim Small Business Commissioner in March. In confirming Chapple in the…
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UK Finance has said that banks would pay for access to a central open banking resource under proposed next steps to introduce the concept in the UK. Under proposals from the trade body, open banking functions to let people share their spending habits, regular payments and payees with other banks would move into a separate…
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The ongoing disruption to the school year is set to have a dramatic impact on household finances, with a third (33%) of families with children at home admitting that they will experience a negative impact on their finances if schools don’t open in the near future according to Comparethemarket.com research. Family anxiety around employment and…
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More SMEs are changing their credit terms with their suppliers due to Covid-19, finds the latest results from the ACCA UK and The Corporate Finance Network (The CFN) SME Health Tracker. The survey of accountants, representing nearly 19,000 SME clients, also shows that the current business environment of opening up is slowly easing the intense…
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Severe economic disruption caused by COVID-19 will see a short-term hit for the UK mortgage market, but payments holidays should keep it afloat and see growth from 2021, according data and analytics company GlobalData. GlobalData’s post-COVID-19 amended forecasts expect a decline of 1.3% in mortgage loans in 2020, down from 2.6% previously. Its overall compound…
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The Financial Conduct Authority (FCA) has announced proposals to extend the payment freeze of consumer credit products for people whose finances have been negatively impacted by Covid-19. The proposals outline the support firms would be expected to provide credit card and other revolving credit (store card and catalogue credit) and personal loan customers coming to…
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Thought Machine, the cloud native core banking technology firm, has announced it has teamed up with RegTech specialist TruNarrative to provide Atom bank with financial crime prevention and core banking capabilities. This partnership has enabled Atom to use the TruNarrative platform to conduct a full suite of real-time AML transactional monitoring processes built on top…
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